Rheinmetall committed to investing R251 Million in Renewable Energy at the 5TH South Africa Investment Conference

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Gauteng, South Africa – On 12 April 2023, Rheinmetall Denel Munition (RDM) pledged to invest R251 Million in South Africa for Renewable Energy during the 5th South Africa Investment Conference (SAIC).

During the conference, Honourable President Cyril Ramaphosa met with business leaders of South African companies and agreed to focus on three immediate priority areas: energy, logistics, and crime and corruption. The President reached the investment targets for this financial year. The next goal is to motivate investments of R2 trillion by 2028.

Rheinmetall in South Africa is establishing itself as an Energy Supplier in South Africa and the export market focusing on the localization of Solar Farms, the Export of Green Hydrogen, and the Production of Mobile Green Hydrogen Plants as independent Power Solutions for various applications, including Field Hospitals, Military Field Camps, and Rural Energy needs. Rheinmetall in South Africa has already started with its first 5MW Solar Power Plant in the Western Cape. It will be completed by the end of 2023 as part of its commitment to becoming carbon neutral by 2035 alongside its technology offering. The goal is to provide an alternative to the grid and solve load shedding.

Rheinmetall Denel Munition CEO Jan Patrick Helmsen said: “Next to our export rate of 99%, we want to become the Energy partner for South Africa to support resolving the energy crisis. We remain committed to contributing to South Africa’s future through investing in technology, especially renewable energy and infrastructure, and developing and upskilling our people in South Africa.”

Since the joint venture began in 2008, Rheinmetall has invested R1 billion in infrastructure, R1.5 billion in technology and product development, R200 million in training and bursaries, R100 million in skills development levies, and R400 million in third-party income tax.

The SAIC investment conference is in its final leg of South Africa’s current investment drive to attract R2 trillion by 2028. The pledges received at the 5th SAIC amounted to R332 billion.